Profectus Capital goes live with Scienaptic’s AI credit platform

Joydip Gupta, Business Leader Scienaptic AI

Scienaptic AI, a global AI-powered credit decision platform provider, announced that Profectus Capital is now live on its platform. As a part of Phase-I implementation, Scienaptic has deployed its credit decisioning engine and industry-tested scorecards for Bureau data and Financial Statements to enhance small and medium business (SMB) loan decisions.

How will Profectus Capital leverage Scienaptic’s AI?

Scienaptic will also use its AI to determine risk patterns in Profectus’ customer behavior and provide sharper predictive risk signals. Established in 2017, Profectus Capital is a vital non-banking financial firm registered with the Reserve Bank of India and headquartered in Mumbai.

It offers term loans and working capital loans to small-medium enterprises operating in the manufacturing and service sectors. With Scienaptic AI, Profectus aims to strengthen its credit decisioning processes and enhance credit availability to underserved MSMEs.

What are the executive thoughts on the deal?

“Our goal is to be a preferred financial partner for the SMBs of India by providing better credit access to the credit-underserved. We are lending to 11 Clusters across 18+ locations and plan to establish a presence in many more states soon,” said Nimesh Parikh, CRO, Profectus.

“In support to our mission, Scienaptic AI’s credit decisioning platform will be automating our SMB loan decisioning process and providing intelligent signals to help us scale approval rates while continuing to keep NPAs very low. The platform will be providing a smoother experience for our customers and sharper data driven insights to our underwriters,” Parikh added.

Joydip Gupta, Business Leader Scienaptic AI, cited, “We are delighted to be working with Profectus Capital to help strengthen the credit and financing opportunities for its clients.”

“Profectus has domain expertise in MSME/SME funding and are poised to scale their asset base dramatically. We are sure that Scienaptic’s unique AI will enable the company to reduce credit risk and create maximum social impact to the manufacturing sectors of India.”